Momentum Funding Raises $30M from Victory Park Capital to Grow the Legal Finance Company
Press Release
Jan 22, 2015
Boca Raton, Fla. – Jan. 13, 2015 – Momentum Funding LLC, a premier legal finance company specializing in non-recourse funding to personal injury plaintiffs, announced today the completion of a $30 million round of financing by Victory Park Capital. Investment proceeds will allow Momentum Funding to meet the underserved needs of clients experiencing financial hardships while pursuing a personal injury claim.
“Momentum Funding is fortunate Victory Park recognizes and shares our vision of helping personal injury clients move their cases, and their lives, forward,” said Momentum Funding Co-founder and President Elizabeth Pekin, Esq. “The available capital will allow Momentum to grow and expand our legal funding network nationwide.”
Founded in 2015 by Pekin and Co-founder Elisa Moss, Momentum Funding is headquartered in Boca Raton, Fla., with regional offices in Clearwater, Fla., and Chicago, Ill. The two female entrepreneurs founded the company to help plaintiffs secure funding via a product that is easy to understand with proceeds that are available in as little as 24 hours. While most legal finance companies market directly to plaintiffs, Momentum differentiates itself in the industry by securing business directly from attorney relationships and legal networks. The Momentum Funding co-founders, along with its CEO Michael Pekin, Esq., have more than 40 years of combined experience in personal injury law and legal finance.
“The Momentum team brings decades of direct experience, and we believe this platform is well positioned for success in an underserved and still nascent marketplace,” said Tom Welch, principal at Victory Park Capital, an asset management firm focused on middle market debt and equity investments.
“We are very excited to launch Momentum Funding with the support of Victory Park,” said Michael Pekin, Esq. “Their expertise within the specialty finance industry, and specifically within the legal funding space, will better position Momentum to meet the growing financial needs of our clients.”
About Momentum Funding
Momentum Funding LLC is a premier national legal finance company headquartered in Boca Raton, Fla., with regional offices in Clearwater, Fla. and Chicago, Ill. The company provides non-recourse funding to plaintiffs in personal injury cases. Momentum Funding is committed to helping plaintiffs with urgent financial needs, while also focusing on attorney relationships. Momentum Funding was founded in 2015 by industry leaders Elizabeth Pekin, Esq. and Elisa Moss. The Momentum Funding team has more than 40 years of combined experience in personal injury law and legal finance. The executive team at Momentum Funding is dedicated to Moving Your Case Forward with personalized service, conservative underwriting, and a quick and simple funding process. For more information visit: www.momentumfunding.com.
About Victory Park Capital
Victory Park Capital Advisors, LLC (“VPC”) is a privately held, SEC-registered, global alternative investment firm. VPC provides opportunistic capital solutions to both emerging and established businesses with an expertise investing across various sectors where traditional sources of capital are limited. The firm’s differentiated offerings leverage an extensive network of industry relationships, disciplined deal origination, creative financing capabilities and broad credit structuring and special situations expertise. The firm was founded in 2007 and is headquartered in Chicago with additional offices in New York, Los Angeles and San Francisco. For more information, please visit www.victoryparkcapital.com.